The HVAC systems market was valued at USD 115.99 Billion in 2015 and is expected to reach USD 173.16 Billion by 2022, growing at a CAGR of 5.9% between 2016 and 2022. The base year considered for study is 2015 and the forecast period is between 2016 and 2022. This report provides a detailed analysis of the market based on heating equipment, ventilation equipment, cooling equipment, implementation type, application, and geography. Cooling equipment is expected to hold a large share of the market. The market for heating equipment is expected to grow at a high CAGR between 2016 and 2022.

The research methodology used to estimate and forecast the HVAC systems market begins with capturing data on key vendor revenue through the secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global HVAC systems market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments which have been verified through the primary research by conducting extensive interviews of people holding key positions such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries is depicted in the below figure:

The HVAC system ecosystem comprises component providers, OEMs, system integrators, software providers, and distributors. The players involved in the development of HVAC system include Daikin Industries Limited (Japan), Ingersoll-Rand Plc. (Ireland), Johnson Controls, Inc. (U.S.), Nortek, Inc. (U.S.), and United Technologies Corporation (U.S.) among others as well as associations such as the Air-Conditioning, Heating and Refrigeration Institute (AHRI), American Society of Heating, Refrigeration, and Air-Conditioning Engineers (ASHRAE), and Association of European Refrigeration Component Manufacturers (ASERCOM).

Target audience of the report:

Associations, organizations, forums, and alliances

Component manufacturers

Maintenance and service providers

Original Equipment manufacturers

Research organizations and consulting companies

Technology investors

Software and Services providers

System integrators

This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.

13 HVAC Systems Market, By Geography (Page No. - 106) 13.1 Introduction 13.2 North America 13.2.1 U.S. 13.2.1.1 Steps Taken By the U.S. Government to Reduce Countrys Carbon Footprint 13.2.2 Canada 13.2.2.1 Launch of National Energy Code for Buildings in Canada Contributing to the Growth of the HVAC Systems in the Country 13.2.3 Mexico 13.2.3.1 Government Energy Saving Initiatives Driving the Market in Mexico 13.3 Europe 13.3.1 U.K. 13.3.1.1 Emphasis on Various Events to Create Awareness and Promote Energy-Efficient HVAC System 13.3.2 Germany 13.3.2.1 Introduction of Engineering Simulation Platforms for the HVAC Professionals Expected to Support Growth of the Market 13.3.3 France 13.3.3.1 The Grenelle Environment Initiative to Drive HVAC Systems Market in France 13.3.4 Rest of Europe 13.3.4.1 European Unions Heating and Cooling Strategy 13.4 Asia-Pacific 13.4.1 China 13.4.1.1 Expansion Plans of Leading Manufacturing Companies Supporting the Growth of the HVAC Industry in China 13.4.2 Japan 13.4.2.1 Joint Ventures and New Product Developments Supporting the Growth of the Market in Japan 13.4.3 India 13.4.3.1 Proactive Steps Taken By the Government Helping the HVAC Industry 13.4.4 Rest of APAC 13.4.4.1 Countries are Taking Initiatives to Implement Green Building Technology for Sustainable Development 13.5 Rest of the World 13.5.1 South America 13.5.1.1 RIO Olympics 2016 Created A Big Opportunity for the Market 13.5.2 Middle East 13.5.2.1 Government Regulations for Energy Efficiency and Growing Infrastructure Driving the Market 13.5.3 Africa 13.5.3.1 Attractive Construction Sector is Driving the Market

Figure 1 HVAC Systems Market SegmentationFigure 2 Market: Research DesignFigure 3 Bottom-Up Approach to Arrive at the Market SizeFigure 4 Top-Down Approach to Arrive at the Market SizeFigure 5 Data TriangulationFigure 6 Assumptions of the Research StudyFigure 7 HVAC Systems Market Snapshot (2016 vs 2022): Market for Cooling Equipment to Be the LargestFigure 8 Heat Pumps Expected to Hold A Major Share of the Market for Heating Equipment During the Forecast PeriodFigure 9 Air Filters Expected to Lead the Ventilation Equipment Market Between 2016 and 2022Figure 10 Unitary Air Conditioners to Lead the Market for Cooling Equipment Between 2016 and 2022Figure 11 New Constructions to Exhibit High Growth Between 2016 and 2022Figure 12 Commercial Application to Hold the Largest Market Share By 2022Figure 13 APAC to Hold the Largest Market Share, 2016Figure 14 Attractive Growth Opportunities in the HVAC Systems MarketFigure 15 Market for Heating Equipment Expected to Grow at the Highest CAGR Between 2016 and 2022Figure 16 Unitary Air Conditioners to Hold the Largest Share of the Global HVAC Systems Market in 2016Figure 17 New Constructions Expected to Hold the Largest Market Share in 2016Figure 18 China to Hold the Largest Share of the HVAC Systems MarketFigure 19 HVAC Systems Market Segmentation, By GeographyFigure 20 DROC: HVAC Systems Market, 2015Figure 21 Value Chain Analysis: Major Value Added During the Manufacturing StageFigure 22 Market: Porters Five Forces AnalysisFigure 23 Intensity of Competitive Rivalry Expected to Have A High ImpactFigure 24 Large Number of Suppliers Leading to Intense CompetitionFigure 25 Medium Threat of Substitutes for the HVAC Systems MarketFigure 26 High Bargaining Power of Buyers in the HVAC Systems MarketFigure 27 Medium Bargaining Power of Suppliers Due to Less Product DifferentiationFigure 28 Medium Threat of New Entrants Due to High Capital InvestmentsFigure 29 Market Segmentation, By Heating EquipmentFigure 30 Europe is Expected to Lead the Heating Equipment Market Between 2016 and 2022Figure 31 Residential Application Expected to Hold the Largest Size of the Furnace Market During the Forecast PeriodFigure 32 Huge Demand Expected From the APAC Region in the Boiler Market During the Forecast PeriodFigure 33 Market Segmentation, By Ventilation EquipmentFigure 34 APAC Expected to Dominate the Ventilation Equipment Market During the Forecast PeriodFigure 35 North America Expected to Hold the Largest Market for Humidifier Between 2016 and 2022Figure 36 North America Held the Largest Share of the Dehumidifier Market in 2016Figure 37 Commercial Application Expected to Hold the Largest Market for the Air Filter During the Forecast PeriodFigure 38 APAC Expected to Hold the Largest Size of the Ventilation Fan Market During the Forecast PeriodFigure 39 HVAC Systems Market Segmentation, By Cooling EquipmentFigure 40 APAC Expected to Lead the Room Air-Conditioner Market Between 2016 and 2022Figure 41 Huge Growth is Expected From North America in the Unitary Air-Conditioner MarketFigure 42 Commercial Application Expected to Lead the Chiller Market During Forecast PeriodFigure 43 APAC to Be the Major Market for Coolers Between 2016 and 2022Figure 44 Market Segmentation, By Implementation TypeFigure 45 The Market for New Construction Dominated the Global HVAC Systems Market in 2016Figure 46 HVAC Systems Market Segmentation, By ApplicationFigure 47 Commercial Application Market Segmentation, By TypeFigure 48 Office Buildings to Hold The Largest Size of The HVAC Systems Market Between 2016 and 2022Figure 49 Software and Services Used in HVAC SystemsFigure 50 HVAC Services Market, 20132022 (USD Billion)Figure 51 Market in India to Grow at The Highest CAGR During The Forecast PeriodFigure 52 APAC to Dominate The HVAC Systems Market Between 2016 and 2022Figure 53 HVAC Systems Market Snapshot of North America: Demand to Be Driven By The Increasing Preference Towards Energy-Efficient HVAC SystemsFigure 54 Cooling Equipment Expected to Dominate HVAC Systems Market in North America Between 2016 and 2022Figure 55 Unitary Air-Conditioner to Hold The Largest Size of The Cooling Equipment Market in North America in 2016Figure 56 Heating Equipment Expected to Dominate The Market in Europe During Forecast PeriodFigure 57 HVAC Systems Market in Asia-Pacific Snapshot: China Holds The Largest Market SizeFigure 58 China Expected to Hold The Largest Size of The HVAC Systems Market in APAC Between 2016 and 2022Figure 59 Middle East to Dominate The Market in The RoWFigure 60 Companies Adopted New Product Launches and Developments as A Key Growth Strategy Between 2014 and 2016Figure 61 Ranking of Top 5 Players: Market, 2015Figure 62 Battle for Market Share: New Product Launches & Developments Was The Key Strategy Between 2014 and 2016Figure 63 Geographic Revenue Mix of The Top 5 Players (2015)Figure 64 Daikin Industries Ltd.: Company SnapshotFigure 65 Daikin Industries Ltd.: SWOT AnalysisFigure 66 Ingersoll Rand PLC.: Company SnapshotFigure 67 Ingersoll Rand PLC: SWOT AnalysisFigure 68 Johnson Controls Inc.: Company SnapshotFigure 69 Johnson Controls Inc.: SWOT AnalysisFigure 70 Nortek, Inc.: Company SnapshotFigure 71 Nortek, Inc.: SWOT AnalysisFigure 72 United Technologies Corp.: Company SnapshotFigure 73 United Technologies Corp.: SWOT AnalysisFigure 74 Electrolux AB: Company SnapshotFigure 75 Emerson Electric Co.: Company SnapshotFigure 76 Honeywell International Inc.: Company SnapshotFigure 77 Lennox International Inc.: Company SnapshotFigure 78 LG Electronics: Company SnapshotFigure 79 Mitsubishi Electric Corp.: Company SnapshotFigure 80 Panasonic Corp.: Company SnapshotFigure 81 Qingdao Haier Co., Ltd.: Company SnapshotFigure 82 Samsung Electronics Co., Ltd. : Company SnapshotFigure 83 Whirlpool Corp.: Company Snapshot

The HVAC systems market is expected to reach USD 173.16 Billion by 2022, at a CAGR of 5.9% between 2016 and 2022. The growth of this market is propelled by the government support, increasing industrialization and urbanization, development of advance solutions, and growing demand for energy-efficient devices.

Unitary air-conditioner is expected to hold a large share of the overall HVAC systems market during the forecast period. The unitary air-conditioner has various advantages such as high performance of equipment, high energy efficiency, lower failure risk, and greater load-management potential. They have high demand in residential and small commercial or industrial buildings.

The market for air purifier is expected to grow at a high CAGR in the overall HVAC systems market between 2016 and 2022. The demand for air purifier is growing due to degrading air quality. Further, people are more exposed to high risk of contracting respiratory and other cardiovascular diseases due to rising air pollution. The increasing health concern among people regarding air contamination is expected to drive demand for air purifiers globally.

The market for services in HVAC is expected to reach USD 90.77 Billion by 2022, at a CAGR of 6.2% between 2016 and 2022. The services such as installation, maintenance, and repair generated majority of revenue. These services require skilled workforce and proper training of employees.

The HVAC system software is used for various activities such as designing, servicing, scheduling appointments, tracking business activities, and load calculation. Software solutions in the HVAC industry has made a positive impact on the approach of HVAC professionals to do their job. Technological advancements and digital analytics have simplified the complexities associated with design, load calculations, and monitoring of HVAC system.

The market for new construction is expected to lead the global HVAC systems market during forecast period. Globally, the government is making heavy investment in expansion projects of hotels, retail stores, airports, and educational buildings. The dust from growing construction activities is degrading the air quality, which is driving the demand for HVAC systems to remove pollutants, maintain air quality, and control the temperature of environment and humidity in buildings. Further, the government regulations for smarter buildings and financial incentives for installation of energy-efficient HVAC systems in new construction projects are expected to drive the market.

Commercial application expected to hold the largest share of the HVAC systems market during the forecast period.

The increasing adoption of HVAC systems in commercial buildings, growing demand for energy-efficient devices, and increasing consumer awareness toward energy saving in developing regions such as APAC and RoW are key factors driving the demand for HVAC system in commercial application. Further, heavy investment by government for construction of commercial spaces such as airports, hotels, and retail stores is expected to drive the growth of the market.

APAC is expected to be the leading and fastest-growing market for HVAC system during the forecast period. The increase in construction activities, increase in the disposable income of consumers, rising need of energy consumption, and government initiatives to promote efficient energy consumption practices are some of the major factors for the growth of APAC market. The countries such as China and Japan have high demand for HVAC systems in APAC region.

One of the key restraining factors for the HVAC systems market is the requirement of skilled labor followed by significant installation cost. HVAC systems require fine tuning and the custom fabrication of parts during installation to work properly; otherwise they will probably fail. If the installation of HVAC system is not done by a skilled professional then end user typically need to pay more in the long run. Thus, the requirement skilled labor is expected to incur additional cost to system.

The key market players in the market such as United Technologies Corporation (U.S.) and Daikin Industries Limited (Japan) are focusing on expansion, acquisition, and agreement strategies to enhance their product offerings and expand their business.

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